J. Philip Ferguson was named CIO of AIM Investments; he will be responsible for the firm's long-term investment operations. Mr. Ferguson replaced Edgar M. Larsen, who retired Dec. 31. He joined AIM in 2000 as a senior investment officer, contributing to the management teams of the AIM Select Equity Fund and AIM Diversified Dividend Fund before being named chief equity officer in 2004. The decision to replace Mr. Ferguson in the chief equity officer position is "under review," said David Bachert, manager of media relations. Before AIM, Mr. Ferguson worked in the financial and investment management industries at firms including Goldman Sachs and Lehman Brothers. AIM Investments has $132 billion in assets under management.
Roger Crandall was named vice chairman of Babson Capital Management, a new position. He will retain his existing position as head of corporate securities, said Geoff Smith, a spokesman for the company. In addition, Bill Glavin, Babson's chief operating officer, will also take on the additional role of president from Stuart Reese, who will remain chairman and CEO. Messrs. Crandall and Mr. Glavin will both report to Mr. Reese.